Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares are likely to open higher on Monday, tracking firm European stocks and higher bullion prices.

Worries about monetary policy tightening by the Federal Reserve at the upcoming meetings might weigh a bit and limit market's upside.

In earnings news, Capstone Copper Corp. (CS.TO) reported adjusted EBITDA of $114.7 million for the second quarter of the current fiscal, compared to $128.0 million in Q2 2021.

Barrick Gold Corp (ABX.TO) has reported a near 19% surge in second-quarter net profit.

The Canadian market recovered from early weakness on Friday, and after fluctuating over the course of the trading session, ended modestly higher, thanks to gains in energy sector.

The benchmark S&P/TSX Composite Index ended with a gain of 43.09 points or 0.2% at 19,620.13.

Asian stocks turned in a mixed performance on Monday as stronger-than-expected U.S. jobs report rekindled concerns over aggressive rate hikes by the Federal Reserve and Chinese imports data disappointed, highlighting weak domestic demand.

The U.S.-China tensions over Taiwan also remained on investors' radar, with China announcing fresh military drills in the seas and airspace around Taiwan.

European stocks are up in positive territory, with economy-sensitive stocks leading advances following some positive data from China and the United States.

Also aiding the sentiment is a survey showing investor morale in the euro zone edged up slightly in August from the previous month.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.95 or 1.07% at $88.06 a barrel.

Gold futures are gaining $10.00 or 0.56% at $1,801.20 an ounce, while Silver futures are up $0.438 or 2.21% at $20.280 an ounce.